One of the most unique and lucrative events in INDYCAR history is set for March 22-24 at the luxurious Thermal Club near Palm Springs, California. The Thermal Club $1 Million Challenge will feature a record $1.756 million purse – the largest for any INDYCAR race outside of the Indianapolis 500.

The non-points exhibition event breaks new ground with an innovative knockout format. It begins with an open test on March 22 followed by group qualifying sessions on March 23 to set the heat race lineups.

On March 24, a pair of 10-lap heat races will then whittle the 27-car field down to just 12 drivers advancing to the marquee $1 Million Challenge finale. This winner-take-all main event consists of two 10-lap sprints separated by a 10-minute halftime break.

“This will be an incredible new event for the NTT INDYCAR SERIES,” said Mark Miles, President and CEO of Penske Entertainment. “The unique format and record-setting purse will bring extra energy and drama to a competition set against a scenic and compelling backdrop.”

The $500,000 top prize is the richest for any single INDYCAR race. Payouts extend down to $23,000 for each car that fails to advance past the heat races.

Drivers will have access to push-to-pass for the first time in INDYCAR qualifying during the high-stakes knockout session at The Thermal Club’s 17-turn, 3.067-mile road course.

“It is a unique and challenging knockout format that will test the drivers and teams in new ways and bring out the best of both,” said INDYCAR President Jay Frye.

While the event itself will be closed off to the general public, a few thousand members of the ultra-exclusive Thermal Club residential community will be granted access as embedded guests with teams.

Club members were paired with teams in a draft and will experience unprecedented behind-the-scenes access all weekend long, including team meetings, driver coaching sessions and more.

Though not an official points-paying event, the $1 Million Challenge represents a bold new experiment and stellar opportunity for INDYCAR to showcase its talent and drama in a must-see live sporting event.

NBC, Peacock and the INDYCAR Radio Network will provide comprehensive coverage of all on-track action across the weekend at the picturesque Thermal Club facility.